Working with non-profits in cities such as Seattle, Bellevue, Bellingham, Tacoma, Spokane, San Francisco, San Jose, Los Angeles, San Diego, Austin, Dallas, Boise, Portland, and Denver.
Nonprofit insurance policies are designed specifically to meet the unique needs of nonprofit organizations. These organizations face different risks and challenges compared to for-profit businesses. But just like for profit organizations they face risk in their day-to-day operations. Nonprofit insurance aims to provide coverage tailored to these specific circumstances. Key types of nonprofit insurance include:
General Liability Insurance
Protects against claims of bodily injury, property damage, and personal injury that may occur on the nonprofit’s premises or as a result of its operations.
Directors and Officers (D&O) Insurance
Covers the legal costs, damages, and settlements resulting from lawsuits brought against the organization’s board members and officers for alleged wrongful acts in their official capacities.
Professional Liability Insurance
Also known as errors and omissions (E&O) insurance, it protects the organization and its staff against claims of negligence, mistakes, or failures in the services they provide.
Property Insurance
Covers damage to the nonprofit’s physical assets, such as buildings, equipment, and inventory, due to events like fire, theft, or vandalism.
Worker’s Compensation Insurance
Provides coverage for employees who suffer work-related injuries or illnesses, including medical expenses and lost wages.
Cyber Liability Insurance
Protects against risks related to data breaches, cyberattacks, and other digital threats, covering costs such as notification, legal fees, and recovery efforts.
Event Insurance
Covers risks associated with hosting events, including liability for injuries or property damage and cancellations.
Volunteer Insurance
Provides coverage for volunteers who may be injured while working for the nonprofit, as they are not typically covered under workers’ compensation policies.
Nonprofit insurance is crucial for safeguarding the organization’s assets, reputation, and mission, allowing it to focus on its charitable goals without undue financial risk from unforeseen incidents. A knowledgeable insurance agent at Yew Street Insurance can help you get the most complete coverage for your premium dollars.
